For those looking to find strong Construction stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Pacasmayo (CPAC) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.
Pacasmayo is one of 92 individual stocks in the Construction sector. Collectively, these companies sit at #15 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Pacasmayo is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CPAC's full-year earnings has moved 14.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CPAC has moved about 103.4% on a year-to-date basis. Meanwhile, stocks in the Construction group have gained about 5.1% on average. This means that Pacasmayo is outperforming the sector as a whole this year.
Another stock in the Construction sector, Everus Construction Group, Inc. (ECG), has outperformed the sector so far this year. The stock's year-to-date return is 35.7%.
In Everus Construction Group, Inc.'s case, the consensus EPS estimate for the current year increased 22.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Pacasmayo belongs to the Building Products - Concrete and Aggregates industry, a group that includes 6 individual companies and currently sits at #100 in the Zacks Industry Rank. Stocks in this group have gained about 21.8% so far this year, so CPAC is performing better this group in terms of year-to-date returns.
Everus Construction Group, Inc., however, belongs to the Building Products - Miscellaneous industry. Currently, this 33-stock industry is ranked #163. The industry has moved -0% so far this year.
Pacasmayo and Everus Construction Group, Inc. could continue their solid performance, so investors interested in Construction stocks should continue to pay close attention to these stocks.
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Cementos Pacasmayo S.A.A. (CPAC): Free Stock Analysis Report Everus Construction Group, Inc. (ECG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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